16 m. ago Treasury 'already drawing up tax rises for the Autumn' as grim poll shows just a fifth of Brits say Rachel Reeves had priorities right in Spending Review

Dividends and bank profits are among the areas being mooted for drumming up revenue to balance the books.

Economics

8 h. ago Reeves braced for OBR forecasts to blow £20bn hole in tax and spending plans

Downgrades by Treasury watchdog could force chancellor to raise taxes or cut spending at budget to meet fiscal rulesRachel Reeves is braced for revised forecasts by the Office for Budget Responsibility (OBR) to blow a £20bn hole in her tax and spending plans before the autumn budget.Even without changing the totals the chancellor set out in her spending review on Wednesday, a weaker forecast from the the Treasury’s independent watchdog could force her to find significantly more money at the budget to meet her “non-negotiable” fiscal rules. Continue reading...

Economics

25 h. ago Voices: Rachel Reeves has bet all our money on Wes Streeting saving the NHS

With the cost of living and immigration being too severely impacted by outside factors, backing the NHS was the right choice – and delivering results on health is Labour’s best chance of winning the next election, writes John Rentoul

Economics

47 h. ago Why there's plenty to like in Rachel Reeves' Spending Review for Edinburgh

The Chancellor’s Spending Review announcements should be welcomed, writes Edinburgh City Council leader Jane Megaher.

Politics

48 h. ago Tories demand OBR steps in to scrutinise Rachel Reeves' spending plans amid alarm that her sums don't add up without tax hikes

Conservative MP Gareth Davies, the shadow financial secretary to the Treasury, called for the watchdog to assess Chancellor Rachel Reeves' proposals.

Economics

50 h. ago Voices: ‘Tax the rich first’: Readers demand fairer burden as Reeves faces fiscal squeeze

Our community overwhelmingly believes that to tackle the UK’s economic challenges fairly, the wealthy must pay their share through higher taxes and reforms, while calling on the government to move beyond austerity and provide clear, responsible funding plans

Politics

52 h. ago Police 'won't prioritise phone thefts and shoplifting' with fewer bobbies on the beat as a result of Rachel Reeves' spending review, sources claim

The Chancellor's plans for a 2.3 per cent rise in police spending between 2023-24 and 2028-29 has dismayed police leaders, who insist the funding will leave a £1.2 billion shortfall.

Economics

61 h. ago Any pride women felt about Rachel Reeves being the first female Chancellor has been flushed down the U

Labour has always had a woman problem and now it has the woman problem to end them all.

Politics

68 h. ago Keir Starmer must come to the defence of his chancellor’s spending review

Editorial: In spite of Rachel Reeves’s much-vaunted increase in MoD expenditure, a rise to 2.6 per cent of GDP can only be achieved by draining the overseas aid budget, reallocating intelligence agency funds, and other sleights of hand. When the prime minister faces Nato leaders, including Donald Trump, he will have no choice but to spin the numbers

Politics

2 d. ago Rachel Reeves hit with headache after economy shrinks amid fresh fears of tax hikes

The Office for National Statistics said the UK economy shrank by 0.3% in April. Meanwhile, experts are warning that council tax bills will rise following Chancellor Rachel Reeves's spending review

Economics

3 d. ago Poorest Brits to benefit most from Rachel Reeves's Spending Review

The poorest Brits will benefit most from Rachel Reeves’s public sector spending spree but tax rises look likely in the autumn, think tank the Resolution Foundation has said

Politics

3 d. ago Ben Wallace accuses Labour of ‘conning’ public over defence spending boost claim

Concerns have been raised that the increase in defence spending pledged by Keir Starmer’s government is ‘smoke and mirrors’

Politics

3 d. ago Britain on track to become a ‘National Health State’, says thinktank

Resolution Foundation says half of all public spending will be allocated to the NHS and social care by the end of the decadeBusiness live – latest updatesBritain is on track to become a “National Health State” where half of all public spending is allocated to the NHS and social care by the end of the decade, according to a leading thinktank.Rachel Reeves used her spending review on Wednesday to prioritise billions of pounds for the NHS as she outlined Labour’s priorities up to the next general election, while squeezing funding for other areas. Continue reading...

Events

3 d. ago Tax rises will come if economy shrinks further, IFS warns Rachel Reeves after Spending Review

The Spending Review delivered by Chancellor Rachel Reeves has had a mixed response.

Events

3 d. ago Voices: First the spending review, now the economy – what else lies in wait for Rachel Reeves?

Official figures showed UK plc plunged into the red in April, contracting by 0.3 per cent. There is no sugar-coating how bad of a result that is for the chancellor, writes James Moore

Economics

3 d. ago Reeves only a ‘gnat’s whisker’ from having to raise taxes in autumn, says IFS – UK politics live

Institute for Fiscal Studies says figures for projected departmental efficiencies savings from Treasury are not credibleReeves gambles on ‘renewing Britain’ to win voters’ trustRachel Reeves is now on ITV’s Good Morning Britain. Susannah Reid and Richard Madeley are interviewing her.Q: You must be disappointed about the growth figures? Continue reading...

Politics

3 d. ago Tax rises 'almost inevitable' as IFS torches Rachel Reeves' spending plans warning NHS and defence will need topping up and cost

IFS director Paul Johnson said he would be 'very surprised indeed' if heath and defence funding did not need topping up before the next election.

Events

3 d. ago Tax hikes will come if economy shrinks any further, IFS warns Rachel Reeves

In a scathing assessment, the Institute for Fiscal Studies (IFS) suggested the Treasury was at times ‘making up the numbers’

Events

3 d. ago IFS torches Rachel Reeves' spending plans warning NHS and defence will need topping up and cost

IFS director Paul Johnson said he would be 'very surprised indeed' if heath and defence funding did not need topping up before the next election.

Events

3 d. ago Voices: Yes, ‘Renewal’ Reeves needs to raise taxes – but how will she pull it off?

The chancellor’s fiscal headroom is already compromised by her commitment to tackle child poverty, writes Sean O’Grady. So she needs luck – and to be more boring than ever – to raise the revenue she desperately needs

Politics